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Sellers' Inflation
The term Greedflation first appeared during the COVID-19 pandemic to describe the idea that some inflation is driven by increases in corporate profits. Suggested mechanisms include price gouging, price fixing, windfall gains resulting from information asymmetry, monopoly-like power, and external shocks to the economy. The theory, which first gained traction among left-wing pundits and trade unions, was considered fringe until 2023. According to Paul Hannon of ''The Wall Street Journal'', most economists believe profits have played a larger role in the post-COVID-19 inflationary episode than during the period of inflation that had occurred in the 1970s, although the issue of precisely to what degree has proven controversial and a point of contention. Organizations and notable people that have expressed concern about inflation alleged to have resulted from outsized or unusually high corporate profits include the International Monetary Fund (IMF), the European Central Bank (ECB), Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December 2019. Soon after, it spread to other areas of Asia, and COVID-19 pandemic by country and territory, then worldwide in early 2020. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern (PHEIC) on 30 January 2020, and assessed the outbreak as having become a pandemic on 11 March. COVID-19 symptoms range from asymptomatic to deadly, but most commonly include fever, sore throat, nocturnal cough, and fatigue. Transmission of COVID-19, Transmission of the virus is often airborne transmission, through airborne particles. Mutations have variants of SARS-CoV-2, produced many strains (variants) with varying degrees of infectivity and virulence. COVID-19 vaccines were developed rapidly and deplo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Windfall Profit Taxes
A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry. There have been windfall taxes in various countries across the world, including Australia, Italy, and Mongolia (2006–2009). During the 2021–2023 global energy crisis, policy specialists at the International Monetary Fund recommended that governments institute permanent windfall profits taxes targeted at economic rents in the energy sector, excluding renewable energy to prevent hindering its further development. Discussion Support Thomas Baunsgaard and Nate Verson of the IMF recommend implementing permanent windfall profit taxes on fossil fuel extraction but not temporary taxes or taxes on renewable energy. The taxes should always target a clear measure of excess profits and not be tied to price levels or revenue. They also recommend ensuring that markets can add new capacity quickly if-needed to avoid a spike in prices. Another 2022 IMF paper argues ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coles Supermarkets
Coles Supermarkets Australia Pty. Ltd., doing business as Coles, is an Australian supermarket, retail and consumer services chain, headquartered in Melbourne as part of Coles Group. Founded in 1914 in the suburb of Collingwood, Victoria, Collingwood by George Coles (businessman), Sir George Coles, the company currently operates 846 supermarkets throughout Australia, including several now-re-branded Bi-Lo (Australia), Bi-Lo stores. Coles has over 120,000 employees and accounts for around 27 per cent of the Australian market. Coles Online is the company's online shopping ('click & collect' and home delivery) service. Between 1986 and 2006, Coles Supermarkets was a brand of Coles Myer, later Coles Group, prior to Wesfarmers purchasing Coles Group in 2007. It became a subsidiary of Coles Group again after Wesfarmers Corporate spin-off, spun off the business in November 2018. In 2020, Coles changed its slogan to "Value the Australian way". History George Coles (entrepreneur), Ge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cartel
A cartel is a group of independent market participants who collaborate with each other as well as agreeing not to compete with each other in order to improve their profits and dominate the market. A cartel is an organization formed by producers to limit competition and increase prices by creating artificial shortages through low production quotas, stockpiling, and marketing quotas. Jurisdictions frequently consider cartelization to be anti-competitive behavior, leading them to outlaw cartel practices. Cartels are inherently unstable due to the temptation by members of the cartel to cheat and defect on each other by improving their individual profits, which may lead to falling prices for all members. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers. Advancements in technology or the emergence of substitutes can undermine cartel pricing power, leadi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Power
In economics, market power refers to the ability of a theory of the firm, firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market power occurs if a firm does not face a perfectly elastic demand curve and can set its price (P) above marginal cost (MC) without losing revenue. This indicates that the magnitude of market power is associated with the gap between P and MC at a firm's profit maximising level of output. The size of the gap, which encapsulates the firm's level of market dominance, is determined by the residual demand curve's form. A steeper reverse demand indicates higher earnings and more dominance in the market. Such propensities contradict Perfect competition, perfectly competitive markets, where market participants have no market power, P = MC and firms earn zero economic profit. Market participants in perfectly competitive markets are cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2024 United States Elections
Elections in the United States, Elections were held in the United States on November 5, 2024. In 2024 United States presidential election, the presidential election, former Republican President Donald Trump, seeking a non-consecutive second term, defeated the incumbent Democratic Vice President Kamala Harris. Republicans also gained control of the Senate and held narrow control of the House of Representatives, winning a government trifecta for the first time since 2016 United States elections, 2016. This was the first time since 1980 United States elections, 1980 that Republicans flipped control of a chamber of Congress in a presidential year. This election cycle was notable for two attempted assassinations on Donald Trump, the first in Attempted assassination of Donald Trump in Pennsylvania, Pennsylvania, in which he was shot, and the second in Attempted assassination of Donald Trump in Florida, Florida. This was the first time a U.S. president (current or former) had been shot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is a Centre-left politics, center-left political parties in the United States, political party in the United States. One of the Major party, major parties of the U.S., it was founded in 1828, making it the world's oldest active political party. Its main rival since the 1850s has been the Republican Party (United States), Republican Party, and the two have since dominated American politics. The Democratic Party was founded in 1828 from remnants of the Democratic-Republican Party. Senator Martin Van Buren played the central role in building the coalition of state organizations which formed the new party as a vehicle to help elect Andrew Jackson as president that year. It initially supported Jacksonian democracy, agrarianism, and Manifest destiny, geographical expansionism, while opposing Bank War, a national bank and high Tariff, tariffs. Democrats won six of the eight presidential elections from 1828 to 1856, losing twice to the Whig Party (United States) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PolitiFact
PolitiFact.com is an American nonprofit project operated by the Poynter Institute in St. Petersburg, Florida, with offices there and in Washington, D.C. It began in 2007 as a project of the ''Tampa Bay Times'' (then the ''St. Petersburg Times''), with reporters and editors from the newspaper and its affiliated news media partners reporting on the accuracy of statements made by elected officials, candidates, their staffs, lobbyists, interest groups and others involved in U.S. politics. Its journalists select original statements to evaluate and then publish their findings on the PolitiFact.com website, where each statement receives a "Truth-O-Meter" rating. The ratings range from "True" for statements the journalists deem as accurate to "Pants on Fire" (from the taunt "Liar, liar, pants on fire") for claims the journalists deem as "not accurate and makes a ridiculous claim". ''PunditFact'', a related site that was also created by the ''Times'' editors, is devoted to fact-checki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dictionary
A dictionary is a listing of lexemes from the lexicon of one or more specific languages, often arranged Alphabetical order, alphabetically (or by Semitic root, consonantal root for Semitic languages or radical-and-stroke sorting, radical and stroke for Logogram, logographic languages), which may include information on definitions, usage, etymologies, pronunciations, Bilingual dictionary, translation, etc.Webster's New World College Dictionary, Fourth Edition, 2002 It is a Lexicography, lexicographical reference that shows inter-relationships among the data. A broad distinction is made between general and specialized dictionaries. Specialized dictionaries include words in specialist fields, rather than a comprehensive range of words in the language. Lexical items that describe concepts in specific fields are usually called terms instead of words, although there is no consensus whether lexicology and terminology are two different fields of study. In theory, general dictionarie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collins English Dictionary
The ''Collins English Dictionary'' is a printed and online dictionary of English. It is published by HarperCollins in Glasgow. It was first published in 1979. Corpus The dictionary uses language research based on the Collins Corpus, which is continually updated and has over 20 billion words. Editions * The current edition is the 14th; it was published on 31 August 2023, with more than 732,000 words, meanings, and phrases (not 730,000 headwords) and 9,500 place names and 7,300 biographies. A newer edition of the 14th edition was published 7 May 2024. * The previous edition was the 13th edition, which was published in November 2018. * A special "30th Anniversary" 10th edition was published in 2010. * Earlier editions were published once every 3 or 4 years. History The 1979 edition of the dictionary, with Patrick Hanks as editor and Laurence Urdang as editorial director, was the first British English dictionary to be typeset from the output from a computer database in a specif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Noah Smith (writer)
Noah Smith is an American blogger and commentator on economics and current events. A former assistant professor of behavioral finance at Stony Brook University, Smith writes for his own Substack blog, ''Noahpinion'', and has also written for publications including ''Bloomberg'', ''Quartz'', Associated Press, ''Business Insider'', and ''The Atlantic.'' Smith left Bloomberg in 2021 to focus on ''Noahpinion''. Graduate school Smith graduated from Stanford University in 2003 with a Bachelor of Science in physics. He then began studying economics with the intention of eventually becoming an economic commentator and pundit. Smith started blogging in graduate school, on Google's Blogger platform, inspired by his original goal, as well as feeling disaffected with studying macroeconomics. He attributes the blog's early success to established pundits and economists such as J. Bradford DeLong, Mark Thoma and Paul Krugman reading and referencing it. During this time, Smith also wrote artic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jason Furman
Jason Furman (born August 18, 1970) is an American economist and professor at Harvard University's John F. Kennedy School of Government and a nonresident senior fellow at the Peterson Institute for International Economics. On June 10, 2013, Furman was named by President Barack Obama as chair of the Council of Economic Advisers (CEA). Furman has also served as the deputy director of the U.S. National Economic Council, which followed his role as an advisor for the Barack Obama 2008 presidential campaign. Since 2019, he has taught Economics 10, the year-long introductory economics course at Harvard, together with David Laibson. Furman is also a member of the Council on Foreign Relations, the Group of Thirty and the Aspen Economic Strategy Group. He also serves as a Trustee of the Russell Sage Foundation and on the advisory boards for the Brookings Papers on Economic Activity, the Bund Summit, the Hamilton Project and the Washington Center for Equitable Growth. In addition to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
